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ADVISERS ENCOUNTER UNWELCOME SURPRISES WHEN SWITCHING FIRMS

By Katherine S. DiDonato, Esq.  of Shustak Reynolds & Partners, P.C. posted on Thursday, July 21, 2016.

A recent study by Fidelity Investments shows advisers encounter many unwelcome surprises when they decide to go independent or switch brokerages. The two main difficulties [...] Read More

SEC v. Dawn J. Bennett: From “Financial Myth Busting” To “Busted”

By George C. Miller, Esq.  of Shustak Reynolds & Partners, P.C. posted on Monday, July 11, 2016.

Last fall, the SEC initiated disciplinary proceedings against financial advisor and self-proclaimed “Financial Myth Buster” Dawn Bennett, accusing her of publicly inflating her client assets under management (or “AUM”) and exaggerating her investment returns.  Read More

SEC Halts Ash Narayan from Defrauding RGT Clients

By Erwin J. Shustak of Shustak Reynolds & Partners, P.C. posted on Tuesday, June 21, 2016.

The Securities and Exchange Commission (“SEC”) announced that it obtained a court ordered “freeze” of the assets of three individuals, including Ash Narayan, formerly of RGT Wealth Advisors, who, the SEC alleges, siphoned millions of dollars from the accounts he managed at RGT for professional athletes and others while he was the manager of RGT Wealth Advisor’s Orange County, California office. [...] Read More

It's the Culture, Stupid, Part II

By Dennis Stubblefield of Shustak Reynolds & Partners, P.C. posted on Friday, May 27, 2016.

FINRA CEO Rick Ketchum just delivered what will undoubtedly be his swan song to the industry (he will likely step down later this year). [...] Read More

The Defend Trade Secrets Act: A Powerful New Tool For Business Owners

By Katherine S. DiDonato of Shustak Reynolds & Partners, P.C. posted on Thursday, May 19, 2016.

President Obama recently signed into law the Defend Trade Secrets Act (“DTSA”) of 2016, which gives holders of trade secrets a new and powerful option to bring trade secret lawsuits under federal law. [...] Read More

FINRA Submits Proposed Rule Changes To Clarify Offsetting Awards (SR-FINRA-2016-015)

By Jessica L. Mackaness of Shustak Reynolds & Partners, P.C. posted on Tuesday, May 10, 2016.

FINRA has recently filed proposed rule changes that provide much-needed clarification to how arbitration awards resulting in both sides paying money should be handled. [...] Read More

Morgan Stanley Rep Won’t Pay A Dime Of $34 Million Arbitration Award

By George C. Miller, Esq.  of Shustak Reynolds & Partners, P.C. posted on Friday, April 29, 2016.

Earlier this month, we blogged about a recent $34 million arbitration award entered against Morgan Stanley and its former representative, Ami Forte, for engaging in unauthorized trading and churning brokerage accounts belonging to Roy M. Speer. [...] Read More

DOL’S Final Fiduciary Standard Rule – What's in Store for Financial Professionals?

By Jonah A. Toleno, Esq.  of Shustak Reynolds & Partners, P.C. posted on Wednesday, April 20, 2016.

The U.S. Department of Labor has at last issued the final version of its highly-debated “Fiduciary Rule”. The full text of the Rule, available at the Department of Labor’s website [...] Read More

Ticket Reserve, FirstDIBZ, Panera Bread and RGT Wealth Advisors: Shustak Reynolds & Partners Investigating Potential Claims for Current or Former RGT Wealth Advisor Clients

By Erwin J. Shustak, Esq.  of Shustak Reynolds & Partners, P.C. posted on Thursday, April 14, 2016.

Shustak Reynolds & Partners, P.C., a San Diego based law firm focused in the areas of financial and securities law, is investigating potential claims of current and former clients of RGT Wealth Advisors involving investments that were recommended by former RGT Wealth Advisors Stanley Sangwon Bae and Ash Narayan [...] Read More

Morgan Stanley Defeats Financial Advisor Overtime Class Action

By George C Miller, Esq.  of Shustak Reynolds & Partners, P.C. posted on Wednesday, April 13, 2016.

On Monday, District Court Judge William J. Martini of the Third Circuit declined to certify a class action brought by a group of […] Read More